Pulse Oximeter Market Overview:

Global Pulse Oximeters Market was valued at $1,234 million in 2015, and is expected to reach $1,901 million by 2022, supported by a CAGR of 6.3% during the forecast period 2016 - 2022. The demand for pulse oximeters is expected to increase in the near future, owing to efficient diagnosis of critical health conditions and ability to track the health status of patients in home settings.

The global pulse oximeters market is driven by factors such as rise in incidence of chronic diseases and surge in geriatric population. However, factors such as lack of awareness in developing regions is anticipated to hamper the market growth. Moreover, increase in healthcare expenditure in the emerging economies and high demand for proactive monitoring are expected to unleash new opportunities for market players.

The global pulse oximeters market is segmented on the basis of product type and geography. Based on product type, the market is segmented into table-top/bedside, fingertip, hand-held, wrist-worn, and pediatric pulse oximeters. The market is analyzed based on four geographical regions, which include North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, Malaysia, and rest of Asia-Pacific), and LAMEA (Brazil, Middle East, Africa, and rest of LAMEA).

The key players operating in the pulse oximeter industry have adopted product launch as their key developmental strategy to expand their market foothold. In line with this strategy, Nonin launched the NoninConnect Elite Model 3240 Bluetooth smart wireless finger pulse oximeter, which helped the company to acquire majority share in the global pulse oximeter devices market.

Pulse oximetry is the most common and effective diagnosis test used for determining the severity of respiratory impairment. This has increased the adoption of pulse oximeters for monitoring a wide variety of chronic illness, such as COPD, asthma, and other chronic health conditions in hospitals, clinics, and homes for obtaining accurate readings of oxygen saturation levels.

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The pulse oximeters market has witnessed rapid growth in the recent years, owing to the factors such as rise in incidence of chronic respiratory diseases and increase in awareness about the development of pulse oximeters for personal use. The pulse oximeters market has piqued the interest of healthcare professionals, owing to the increase in use of devices for measuring the oxygen saturation levels in patients. In addition, these devices have helped physicians to determine the severity of diseases.

Increase in geriatric population and rise in prevalence of respiratory ailments, such as COPD and sleep apnea, are expected to drive the pulse oximeters market. However, lack of awareness about these devices in developing economies is expected to hamper the market growth. Moreover, the adoption of pulse oximeter has increased in the recent years, towing to factors such as improved reimbursement scenario and high incidence of disorders, such as COPD, anemia, lung cancer, and pneumonia, which affect blood oxygen levels. These devices have high adoption rate in North America, followed by Europe and Asia-Pacific, respectively, owing to heavy expenditure by the government to improve healthcare and supportive reimbursement policies.